logo
Share SHARE
FONT-SIZE Plus   Neg

Shiner International Full-year Profit Down

Shiner International Inc. (BEST) said its net income for fiscal 2011 fell significantly to $1.7 million from $4.2 million, mainly due to increased labor costs, R&D expenses, depreciation of the new property and no other income from a former landlord offset by an increase in subsidy income. Earnings per share for the year were $0.06, versus $0.17 a year ago.

Shiner's revenue for the year rose 29.4% to $75.3 million from $58.2 million in 2010, helped primarily by an increase in domestic product volume.

Qingtao Xing, Shiner's President and CEO, stated, "In 2012, we will continue to develop new market and expand our market share both in China and abroad with our efforts. By investing in our R&D's innovation and the high-end facility, we expect to achieve better operational performance and financial prospect in 2012."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Retailer Sears Holdings Corp. reported Thursday wider net loss in its third quarter, hurt by weak revenues and comparable store sales. Edward Lampert, Chairman and Chief Executive Officer, said, "We remain fully committed to restoring profitability to our Company and are taking actions such as reducing unprofitable stores, reducing space in stores we continue to operate (including throug Sony announced Wednesday a temporary discount for the PlayStation 4, the same offer that was available on Black Friday and Cyber Monday. Starting December 11 and until December 24, the Japanese electronics maker will sell the Uncharted 4 PS4 Slim bundle for only $249.99 in the United States. A little over two months after reporting positive results from its first late-stage psoriasis trial, Dermira Inc. (DERM) is back with some more good news for its investors.
comments powered by Disqus
Follow RTT